The statements in this section merely provide background information related to the present disclosure and may not constitute the prior art.
To people in general, cash of coins or bills is an unwanted volume or load to carry attended by the risk of unrecoverable loss. In response, to cope with the inconvenience and insecurity of carrying cash and to facilitate payments in financial transactions, credit card payment processing services have been widely used, to set up a credit limit for a user to buy first and pay later based on the user's credit credentials.
Recent years have seen the new idea of electronic money (e-money) of electronically setting and storing the value of money so that it takes the role of cash in trade. Depending on where the cash value is stored, the e-money is classified into IC (integrated circuit) card type of e-money and network type e-money.
Here, the IC card is a credit card-sized card with built-in IC chips for storing cash value in the form of electronic codes, and also goes by the name of smart card. The IC card is relatively safe from forgery and alteration as it uses the IC chips for storing e-money and has an embedded CPU (central processing unit) offering computing functions. As the existing cash cards are to withdraw cash from ATMs (automatic teller machines), the IC card replaces the cash withdrawal with an amount of e-money recharged to the IC card at a recharge machine, functioning as cash in a card affiliated store where payment is made by the e-money stored in the IC card for goods or services at a reading machine of the seller and then that payment price is transferred automatically to the seller's bank account linked. Such transactions with the IC card type of e-money resemble credit card transactions but the credit card transactions involve interventions of the credit card issuer in the payment process by making a beforehand payment of the price and waiting for the purchaser to pay back the corresponding amount, whereas the e-money IC card transactions skip such intervention stage resulting in an immediate transfer of fund which is of big difference. Recharging fund to the e-money IC card may be done repeatedly at ATMs equipped with the recharge machine, telephone handsets, bank tellers, PC (personal computer) and others. Such IC card-type e-money is useless in electronic commerce unless it is compatible with its networked counterpart.
The network type e-money is electronic money used in a computer network including PC communications and the Internet, and it is primarily used in the e-commerce. Users of the networked e-money goes through the computer network to withdraw funds from their banks and pay the purchase price of goods in the form of computer files. The networked e-money only works on the network with an initial installation of a networked e-money program followed by purchasing desired amount of e-money and then purchasing of a product through e-commerce which is completed with payment of the purchase price.
On the other hand, came with the latest developments of digital technology and communication technology which diversify the capabilities of mobile communication terminals are mobile communication terminal based digital wallet or e-wallet services utilizing an IC card installed in the terminal which then functions as a method of payment.
The terminal based e-wallet service involves having credentials for payment prestored in the e-wallet of the terminal and clearing a wireless internet e-commerce transaction or off-line payment of purchase price simply by using the stored e-wallet credentials. Such services have the advantage of providing convenience and security in practice due to a wireless public key infrastructure (WPKI) solution installed as well as multilevel security measures for accessing exclusively by the identified user without fear of information leaks.
Then, such mobile communication terminal based e-wallet services have a prerequisite that the IC e-wallet cards carry certain amount of positive balance. However, since it is difficult for users to constantly monitor the affordable balance through their own terminals, chances are they bear the awkward moments of low cash to checkout or being forced to take an untimely travel to the recharge venues and go through the reloading process with new cash which is a hindrance.
In particular, youth and senior citizens may want to receive spending money from others for recharging their terminal with e-money for use and they may get, so to speak, pissed off as of with low cash and low e-money balance which are not up to the price of purchase. In addition, if the spending money is deposited in a bank available for withdrawals and when e-money recharges are necessary, the account holder will have to rush to the bank at each low balance of e-money for the cumbersome routines of cash withdrawal and e-money recharge into the terminal.